EastBanc Obtains Contract for Gateway to Georgetown

Anthony Lanier, owner of EastBanc, Inc., said that despite the fact there is a contract to buy the gas station property at 2715 Pennsylvania Ave., NW, the gateway to Georgetown, there is nothing substantial developing in terms of his company’s plan to redevelop the property. EastBanc is already working on a condo project near Key Bridge near Georgetown's western gateway.

“We have no plans as of now,” Lanier wrote of EastBanc's intention about the property in an email. As first reported by the Washington Business Journal, speculations have surfaced that there are still plenty of questions unanswered as to whether or not the current owners could stay as joint-venture partners and re-develop the gas station into a residence property.

According to the Washington Business Journal, Lanier said he believes that there is potential to create a signature project on the given site for its unique location at the intersection between M Street and Pennsylvania Avenue, NW, which serves as a gateway to Georgetown.

The station is owned by ABC Automotive LLC and is assessed at $1.9 million, according to the D.C. Office of Tax and Revenue.